Investment analysts at StockNews.com started coverage on shares of New Concept Energy (NYSE:GBR – Get Free Report) in a report released on Sunday. The brokerage set a “sell” rating on the stock.
New Concept Energy Stock Performance
Shares of NYSE GBR opened at $1.18 on Friday. New Concept Energy has a one year low of $0.95 and a one year high of $1.82. The business’s 50-day moving average price is $1.20 and its two-hundred day moving average price is $1.35.
Hedge Funds Weigh In On New Concept Energy
A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC grew its holdings in New Concept Energy, Inc. (NYSE:GBR – Free Report) by 69.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 152,600 shares of the company’s stock after purchasing an additional 62,400 shares during the quarter. PFG Investments LLC owned about 2.97% of New Concept Energy worth $244,000 as of its most recent filing with the SEC.
About New Concept Energy
New Concept Energy, Inc engages in real estate rental business. The company owns approximately 190 acres of land located in Parkersburg West Virginia. It also provides advisory and management services for an independent oil and gas company. The company was formerly known as CabelTel International Corporation and changed its name to New Concept Energy, Inc in May 2008.
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